External Trade - November 2004
Exports of electrical engineering products and cars rising markedly
Publication Date: 05. 01. 2005
Product Code: r-6001-04
According to preliminary data, both exports and imports seasonally adjusted fell by 1.1% and 8.4% month-on-month , respectively.
In terms of year-on-year comparison, current price exports and imports were up 33.2% and 20.4%, respectively. Exports reached a record-breaking level in November, whereas October stood out in this respect in 2003. The value of November exports in comparison with the average value of exports in the first ten months of 2004 was 13.8% up, as against 5.3% in the corresponding period of 2003. External trade grew faster both in terms of US dollars (exports +51.2% and imports +36.6%) and in terms of euros (exports +36.1% and imports +23.0%) than external trade valued in Czech korunas .
The trade balance ended in a surplus of CZK 5.2 billion, as against the deficit of CZK 8.4 billion in November 2003. This was the first surplus recorded in November over the last decade. Trade balance with EU member states reached a surplus of CZK 25.5 billion, trade balance with non-EU states ended in a deficit of CZK 20.3 billion. Surplus rose especially in trade in ’machinery and transport equipment’ (by CZK 14.3 billion) and ‘manufactured goods classified chiefly by material’ (by CZK 1.6 billion). On the contrary, due to a higher growth of imports than exports, surplus in ‘miscellaneous manufactured articles‘ decreased by CZK 0.9 billion. Deficit in trade in ‘chemicals and related products’ improved by CZK 0.5 billion; on the other hand, deficit in ’mineral fuels, lubricants and related materials’ worsened by CZK 0.5 billion.
The favourable development of the balance of trade in ’machinery and transport equipment’ was primarily affected by a high increase in surplus of trade in passenger cars (by CZK 3.7 billion), computers (by CZK 3.0 billion) and by a deficit of CZK 0.7 billion turning into a surplus of CZK 2.2 billion in trade in television receivers.
By group of countries, balance of external trade with EU member states reached a CZK 11.2 billion increase in surplus, particularly in trade with Germany (by CZK 5.5 billion, especially due to a growth of surplus in trade in computers and passenger cars) and Slovakia (by CZK 2.0 billion, mainly due to a growth of surplus in trade in passenger cars). Deficit of trade with non-EU states decreased by CZK 2.4 billion y-o-y, most with Russia (by CZK 1.3 billion).
Over last twelve months , exports and imports were up 24.1% and 20.5%, respectively. Trade gap totalling CZK 32.9 billion was CZK 34.0 billion down on the preceding twelve months.
Positive development was reported for trade in ‘machinery and transport equipment‘ (a CZK 59.1 billion increase in surplus). On the other hand, higher deficits were recorded for trade in ‘chemicals and related products’ (by CZK 6.4 billion) and ‘mineral fuels, lubricants and related materials‘ (by CZK 3.3 billion). At the same time, surpluses were lower in trade in ‘miscellaneous manufactured articles‘ (by CZK 3.6 billion) and ‘manufactured goods classified chiefly by material (by CZK 2.5 billion).
By group of countries, surplus of trade with EU member states grew by CZK 58.7 billion, particularly in trade with Germany (by CZK 33.5 billion), Slovakia (by CZK 15.1 billion), Austria (by CZK 8.9 billion) and Belgium (by CZK 8.7 billion). Deficit of trade with non-EU states rose by CZK 24.8 billion, especially in trade with Japan (by CZK 21.2 billion) and China (by CZK 15.4 billion). On the other hand, trade gap with Malaysia decreased by CZK 4.0 billion and deficit CZK 0.3 billion in trade with Turkey turned into a surplus of CZK 3.5 billion.
January-November 2004 exports and imports grew by 24.2% and 20.5%, respectively. Trade deficit reached CZK 13.0 billion, which was CZK 36.9 billion down y-o-y. After the accession of the Czech Republic to the EU, both exports and imports grew by 28.6% and 23.0% on average, respectively, as against 16.3% and 15.8%, respectively, in January – April 2004.
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According to the communication from the Directorate General of Customs, data were received from 95.5% of the total of 20 230 firms obliged to report to the Intrastat system. As far as large firms are concerned (firms whose value of exports to or imports from EU member states exceeded CZK 100 million in 2003), the response rate was 98.1% from among the total number of 2 718 firms.Data on firms exempted from reporting duty (firms whose annual value of trade with EU member states was below CZK 4 million for goods dispatched and below CZK 2 million for goods received) were imputed. The imputation methods are based on data that firms supplied in the previous period. As to the November data, shares of imputed values in total exports and total imports were 0.4% and 0.6%, respectively.
Note
Contact: Petra Křížová, phone (+420) 274 054 270, e-mail: krizova@gw.czso.cz
Data source: Intrastat reports and Single Administrative Documents (SAD) collected by the Directorate General of Customs (DGC)
Related publication: 6001-04 External Trade of the Czech Republic in January – November 2004 ( /ep-6-opendocument ))
The data for individual months of 2003 are final, referring to 27 August 2004 closing date, and data for January – September 2004 are updated, referring to 29 November 2004 closing date.
The October 2004 data, referring to 29 November 2004 closing date, and the November 2004 data, referring to 29 December 2004 closing date, are preliminary and will be updated in March 2005.